News Release

TIME-21 Fund proposed for infrastructure funding

AMES, Iowa – A report from the Iowa Department of Transportation (Iowa DOT) to the Iowa General Assembly concerning enhancing Iowa 's economy through investments in transportation infrastructure is now available.

The report, “Study of Iowa's Current Road Use Tax Funds (RUTF) and Future Road Maintenance and Construction Needs,” was developed by the Iowa DOT in coordination with city and county officials, and with input from many individuals and organizations.

Detailed in the report are the challenges facing Iowa's roadways which, left unaddressed, will continue to delay critical maintenance and preservation efforts, and defer investments aimed at adding capacity to our roads system.

The report documents the fact that Iowa's public roads system will experience a $4 billion shortfall in funding for its most critical needs over the next 20 years, based on current projected revenues and expected construction and maintenance needs. The report recommends an increase of $200 million annually to meet these critical roadway needs.

The report also includes options for the legislature to consider that would increase roadway funding. Additional revenues that are generated would be deposited into a new fund named “Transportation Investment Moves the Economy in the 21 st Century (TIME-21) Fund,” with the funding distributed on a formula basis to the state and local governments. Because investment in the public roadway system is vital to sustain and grow Iowa 's economy, the new funds would target revenue in those areas particularly important to Iowa 's economy.

The recommendations contained in the report are endorsed by organizations representing Iowa 's counties and cities, specifically the Iowa League of Cities, Iowa State Association of Counties, Iowa County Engineers Association, and Iowa State Association of County Supervisors. They are also supported by the Iowa Good Roads Association and Associated General Contractors of Iowa.

To view a copy of the report, go to www.iowadot.gov and click on the TIME-21 logo.

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